New Delhi8 minutes ago
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India’s banking cinerios have recently changed the biggest change in many years. India’s first finite-manual bank has officially come into existence with the merger of slices one of the country’s fastest growing Fintech companies with the North East Small Finance Bank (NESFB).
This bank has been designed from the beginning to serve every Indian living in the metros and remote towns. This merger was received in the regulator approval in October 2024. This merger is not only filled with two financial institutions to come together – it is a symbol of the introduction of a new type of bank. This brings together fintech agility and banking stability, so that a completely new strategy can be made for modern financial services.
The mission of this new unit is: simplifying banking, expanding access to debt and promoting financial inclusion at the national level – which will be fully powered by technology, data and design.
More than merger – reconstruction of Indian banking Indeed, the slices-NESFB merger is inspired by shared confidence, which believes that India deserves a smart, fast, smooth banking experience. Result? The formation of a new type of bank where ….
- Onboarding is done in minutes with 100% digital KYC.
- AI-Credits supported by the operated risk model provide immediately.
- Its branches are technology-based experience centers, not paperwork.
- Each product is made with mobile-first, individual centered and users in mind.
The center of this change is the bank’s upcoming AI-operated major branches, which are to be launched in metros and emerging cities. These branches will facilitate facial identification-based entry, self-service kiosk, 24×7 UPI-enabled ATM and immediate loan processing-from which a new model of branch banking will be prepared. The second edition of the Startup Mahakumbh in New Delhi (3-5 April) will see special preview of these next generation branches. Which will give the first glimpse of how the future of banking really will be.
Product-first, customer-focused Where traditional banks are still adopting digital, it is born digitally. It is already introducing a set of high-effects of financial products, which has been designed to meet the needs of both urban professionals and first banking users:
Digital savings accounts
- The RBAI ensures more returns compared to 100%, linked to 100% from repo rate.
- Interest will be deposited in the customer’s account on a daily basis, not monthly. It provides more value to the customer than day by day.
- A new digital account is opened in just a few minutes. There is no need to go to the branch.
Fixed deposit with interest up to 9%
- The country is currently the highest in the prevailing rates of FD rate.
- It is easy to book through the app. Return has a complete transparent details.
- Ideal for risk -avoiding savior and short -term benefits for salaried professionals.
Slice loan
- A modern view on personal loans.
- Real time eligibility check, flexible limit and immediate allocation.
- Ideal for young professionals, gig workers and small business owners.
Enterprise debt
- Customize loans for entrepreneurs associated with MSME and self-employment.
- AI-based underwriting ensures fast and fair approval.
- Low documents and maximum flexibility.
All this is powered by a single technology layer – which is designed to provide banking at the speed of thought, not at the speed of paperwork.
National approach, focus on inclusive development Even though NESFB roots are in the northeastern states, the bank’s attitude is completely national. In the next 12-24 months, it plans to expand in metro cities with major branches and digital centers, while smart, simple technical will pursue the service of towns and rural India through simple technical infrastructure. Its strategy includes:-
- Starting from Delhi, Bengaluru, Mumbai and Guwahati and open branches across India
- Providing AI-operated financial planning tools for individuals and small businesses.
- Financial literacy programs and women-focused banking products, especially in SHG operated rural areas
- An open API-first architecture that allows spontaneous integration with government and private fintech platforms
Statistics itself its biggest proof Since integration, the bank is performing strong financial. This is a proof of the power of this fintech-banking model.
- Capital to Risk- Wasted Asset Ratio (CRAR): 22.2%
- Net Worth: ₹ 920 Crore
These indicators reflect a stable, scalable institute – which enables growth with better manage of risk.
This is not just a new bank, a new way of banking India’s first Fintech-bank is not just trying to modernize banking. It is re -writing its foundation. At a time when traditional banks are struggling for digitization of its prevailing methods, this fintech is building a different way: a bank that is designed like a tech company, which includes compliance and governance.
A strong product stack, with AI and nationwide expansion at the original – This bank is redefining the way Indians save, take loans, invest and create their future.
